Loop Industries (LOOP) 10-Q 8 Jul 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 31, 2019	Jul. 08, 2019
Document And Entity Information
Entity Registrant Name	Loop Industries, Inc.
Entity Central Index Key	0001504678
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--02-29
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		39,012,531
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	May 31, 2019	Feb. 28, 2019
Current assets
Cash	$ 6,971,613	$ 5,833,390
Sales tax, tax credits and other receivables	741,993	599,000
Prepaid expenses	176,309	226,521
Total current assets	7,889,915	6,658,911
Investment in joint venture	500,000	0
Property, plant and equipment, net	6,005,335	5,371,263
Intangible assets, net	146,112	127,672
Total assets	14,541,362	12,157,846
Current liabilities
Accounts payable and accrued liabilities	3,103,159	2,670,233
Convertible notes	3,653,549	5,636,172
Warrants	0	219,531
Current portion of long-term debt	51,748	53,155
Total current liabilities	6,808,456	8,579,091
Long-term debt	914,221	952,363
Total liabilities	7,722,677	9,531,454
Stockholders' Equity
Series A Preferred stock par value $0.0001; 25,000,000 shares authorized; one share issued and outstanding	0	0
Common stock par value $0.0001: 250,000,000 shares authorized; 34,875, 032 shares issued and outstanding (February 28, 2019 – 33, 805,706)	3,488	3,381
Additional paid-in capital	46,536,157	38,966,208
Additional paid-in capital - Warrants	1,074,633	757,704
Additional paid-in capital - Beneficial conversion feature	1,200,915	1,200,915
Common stock issuable, 1,000,000 shares	800,000	800,000
Accumulated deficit	(42,366,142)	(38,811,592)
Accumulated other comprehensive loss	(430,366)	(290,224)
Total stockholders' equity	6,818,685	2,626,392
Total liabilities and stockholders' equity	$ 14,541,362	$ 12,157,846

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Feb. 28, 2019
Stockholders' Equity
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	34,875,032	33,805,706
Common stock, shares outstanding	34,875,032	33,805,706
Common stock issuable	1,000,000	1,000,000
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, share authorised	25,000,000	25,000,000
Preferred stock, share issued	1	1
Preferred stock, share outstanding	1	1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Income Statement [Abstract]
Revenue	$ 0	$ 0
Operating Expenses
Research and development	997,861	1,066,079
General and administrative	1,902,630	2,355,550
Depreciation and amortization	164,336	101,069
Interest and other finance costs	501,849	12,913
Foreign exchange (gain) loss	(12,126)	(6,081)
Total operating expenses	3,554,550	3,529,530
Net Loss	(3,554,550)	(3,529,530)
Other comprehensive loss
Foreign currency translation adjustment	(140,142)	(52,268)
Comprehensive Loss	$ (3,694,692)	$ (3,581,798)
Loss per share
Basic and Diluted	$ (0.11)	$ (0.11)
Weighted average common shares outstanding
Basic and Diluted	34,714,510	33,140,148

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Stockholders Equity (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock	Additional Paid-In Capital	Additional Paid-In Capital - Warrants	Additional Paid-In Capital - Benificial Conversion Feature	Common Stock Issuable	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total
Beginning Balance, Shares at Feb. 28, 2018	33,751,088	1
Beginning Balance, Amount at Feb. 28, 2018	$ 3,376	$ 0	$ 30,964,970	$ 0	$ 0	$ 800,000	$ (21,275,181)	$ (169,100)	$ 10,324,065
Issuance of shares upon cashless exercise of warrants, Shares	18,821
Issuance of shares upon cashless exercise of warrants, Amount	$ 2		(2)
Issuance of shares upon vesting of restricted stock units, Shares	35,797
Issuance of shares upon vesting of restricted stock units, Amount	$ 3		(3)
Warrants issued for services			978,025						978,025
Restricted stock units issued for services			207,644						207,644
Foreign currency translation								(52,268)	(52,268)
Net loss							(3,529,530)		(3,529,530)
Ending Balance, Shares at May. 31, 2018	33,805,706	1
Ending Balance, Amount at May. 31, 2018	$ 3,381	$ 0	32,150,634	0	0	800,000	(24,804,711)	(221,368)	7,927,936
Beginning Balance, Shares at Feb. 28, 2019	33,805,706	1
Beginning Balance, Amount at Feb. 28, 2019	$ 3,381	$ 0	38,966,208	757,704	1,200,915	800,000	(38,811,592)	(290,224)	2,626,392
Issuance of common shares for cash, net of share issuance costs, Shares	600,000
Issuance of common shares for cash, net of share issuance costs, Amount	$ 60		4,266,725						4,266,785
Issuance of shares for legal settlement, Shares	150,000
Issuance of shares for legal settlement, Amount	$ 15		(15)
Issuance of shares upon conversion of Convertible notes, Shares	319,326
Issuance of shares upon conversion of Convertible notes, Amount	$ 32		2,372,549	316,929					2,689,510
Stock options issued for services			575,513						575,513
Restricted stock units issued for services			355,177						355,177
Foreign currency translation								(140,142)	(140,142)
Net loss							(3,554,550)		(3,554,550)
Ending Balance, Shares at May. 31, 2019	34,875,032	1
Ending Balance, Amount at May. 31, 2019	$ 3,488	$ 0	$ 46,536,157	$ 1,074,633	$ 1,200,915	$ 800,000	$ (42,366,142)	$ (430,366)	$ 6,818,685

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Cash Flows from Operating Activities
Net loss	$ (3,554,550)	$ (3,529,530)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	164,336	101,069
Stock-based compensation expense	930,690	1,185,669
Accrued interest	117,433	0
Loss on revaluation of warrants	8,483	0
Debt accretion	583,727	0
Deferred financing costs	46,442	0
Gain on conversion of convertible notes	(268,730)	0
Changes in operating assets and liabilities:
Sales tax and tax credits receivable	(158,954)	53,699
Prepaid expenses	49,136	239,669
Accounts payable and accrued liabilities	(5,366)	(221,637)
Net cash used in operating activities	(2,087,353)	(2,171,061)
Cash Flows from Investing Activities
Investment in joint venture	(500,000)	0
Additions to property, plant and equipment	(470,545)	(585,958)
Additions to intangible assets	(24,811)	(6,358)
Net cash used in investing activities	(995,356)	(592,316)
Cash Flows from Financing Activities
Proceeds from sales of common shares and exercise of warrants, net of share issuance costs	5,130,000	0
Share issuance costs	(863,216)	0
Repayment of long-term debt	(13,057)	(13,514)
Net cash (used) provided by financing activities	4,253,727	(13,514)
Effect of exchange rate changes	(32,796)	(17,807)
Net change in cash	1,138,222	(2,794,698)
Cash, beginning of period	5,833,390	8,149,713
Cash, end of period	6,971,612	5,355,015
Supplemental Disclosure of Cash Flow Information:
Income tax paid	0	0
Interest paid	$ 14,488	$ 13,037

Nature of the Company, Basis of

Nature of the Company, Basis of Presentation and Going Concern	3 Months Ended
	May 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Company, Basis of Presentation and Going Concern	The Company Loop Industries, Inc. is a technology and licensing company who owns patented and proprietary technology that depolymerizes no and low value waste PET plastic and polyester fiber to its base building blocks (monomers). The monomers are filtered, purified and repolymerized to create virgin-quality Loop™ branded PET plastic resin and polyester fiber suitable for use in food-grade packaging to be sold to consumer goods companies. On November 20, 2017, Loop Industries Inc. commenced trading on the NASDAQ Global Market under its new trading symbol, “LOOP.” From April 10, 2017 to November 19, 2017, our common stock was quoted on the OTCQX tier of the OTC Markets Group Inc. under the symbol “LLPP.” Basis of presentation The accompanying unaudited interim condensed consolidated financial statements of Loop Industries, Inc., its wholly-owned subsidiaries and joint venture (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The balance sheet information as at February 28, 2019 is derived from the Company’s audited consolidated financial statements and related notes for the fiscal year ended February 28, 2019, which is included in Item 8 of the Company’s 2019 Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 8, 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with those financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair statement have been included. Operating results for the three months ended May 31, 2019 are not necessarily indicative of the results that may be expected for the year ending February 28, 2020. Intercompany balances and transactions are eliminated on consolidation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for depreciable lives of property, plant and equipment, intangible assets, analysis of impairments of recorded intangible assets, accruals for potential liabilities and assumptions made in calculating the fair value of stock-based compensation and other stock instruments. Foreign currency translations and transactions The accompanying unaudited condensed consolidated financial statements are presented in U.S. dollars, the reporting currency of the Company. Assets and liabilities of subsidiaries that have a functional currency other than that of the Company are translated to U.S. dollars at the exchange rate as at the balance sheet date. Income and expenses are translated at the average exchange rate of the period. The resulting translation adjustments are included in other comprehensive income (loss) (“OCI”). As a result, foreign currency exchange fluctuations may impact operating expenses. The Company currently has not engaged in any currency hedging activities. For transactions and balances, monetary assets and liabilities denominated in foreign currencies are translated into the functional currency of the entity at the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities, and revenue and expense items denominated in foreign currencies are translated into the functional currency using the exchange rate prevailing at the dates of the respective transactions. Foreign exchange gains and losses resulting from the settlement of such transactions are recognized in the consolidated statements of operations and comprehensive loss, except for gains or losses arising from the translation of intercompany balances denominated in foreign currencies that forms part in the net investment in the subsidiary which are included in OCI. Stock-based compensation Loop Industries, Inc. periodically issues stock options and restricted stock units to employees and non-employees in non-capital raising transactions for services and financing costs. The Company accounts for stock options granted to employees based on the authoritative guidance provided by the FASB wherein the fair value of the award is measured on the grant date and where there are no performance conditions, recognized as compensation expense on the straight-line basis over the vesting period and where performance conditions exist, recognize compensation expense when it becomes probable that the performance condition will be met. Forfeitures on share-based payments are accounted for by recognizing forfeitures as they occur. The Company accounts for stock options granted to non-employees in accordance with the authoritative guidance of the FASB wherein the fair value of the stock compensation is based upon the measurement date determined as the earlier of the date at which either a) a commitment is reached with the counterparty for performance or b) the counterparty completes its performance. The Company estimates the fair value of restricted stock unit awards to employees and directors based on the closing market price of its common stock on the date of grant. The fair value of the stock options granted are estimated using the Black-Scholes-Merton Option Pricing (“Black-Scholes”) model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the stock options, and future dividends. Stock-based compensation expense is recorded based on the value derived from the Black-Scholes model and on actual experience. The assumptions used in the Black-Scholes model could materially affect stock-based compensation expense recorded in the current and future periods. Income taxes The Company calculates its provision for income tax on the basis of the tax laws enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income, in accordance with FASB ASC 740, Income Taxes Research and development expenses Research and development expenses relate primarily to the development, design, testing of preproduction samples, prototypes and models, compensation, and consulting fees, and are expensed as incurred. Total research and development costs recorded during the three-month periods ended May 31, 2019 and 2018 amounted to $997,861 and $1,066,079, respectively, and are net of government research and development tax credits and government grants from the federal and provincial taxation authorities accrued and recorded based on qualifying expenditures incurred during the fiscal periods. Net earnings (loss) per share The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share For the three-month periods ended May 31, 2019 and 2018, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at May 31, 2019, the potentially dilutive securities consisted of 1,691,973 outstanding stock options (May 31, 2018 – 2,254,581), 403,767 outstanding restricted stock units (May 31, 2018 – 22,755), 962,132 outstanding warrants (May 31, 2018 – 140,667) and 1,000,000 outstanding issuable common stock (May 31, 2018 – 1,000,000). Recently adopted accounting pronouncements In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers In July 2018, the FASB issued ASU 2018-09, Codification Improvements , Compensation – Stock Compensation – Income Taxes In February 2016, the FASB issued ASU 2016-02, “Leases,” amended in July by ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Targeted Improvements,” and ASU 2018-20, “Narrow-Scope Improvements for Lessors,” which requires lessees to recognize leases on the balance sheet while continuing to recognize expenses in the income statement in a manner similar to current accounting standards. For lessors, the new standard modifies the classification criteria and the accounting for sales-type and direct financing leases. Enhanced disclosures will also be required to give financial statement users the ability to assess the amount, timing, and uncertainty of cash flows arising from leases. This ASU may either be adopted on a modified retrospective approach at the beginning of the earliest comparative period, or through a cumulative-effect adjustment at the adoption date. This update is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted these standards effective March 1, 2019. The adoption of the standard had no impact on the consolidated financial statements of the Company. The Company elected to apply the package of practical expedients that allows us not to reassess whether expired or existing contracts contain leases, the classification of these leases and whether previously capitalized initial direct costs would qualify for capitalization under Accounting Standards Codification (or “ ASC

Sales Tax, Tax Credits and Othe

Sales Tax, Tax Credits and Other Receivables	3 Months Ended
	May 31, 2019
Sales Tax Tax Credits And Other Receivables
Sales Tax, Tax Credits and Other Receivables	Sales tax, research and development tax credits and other receivables as at May 31, 2019 and February 28, 2019 were as follows: May 31, 2019 February 28, 2019 Sales tax $ 222,215 $ 82,992 Research and development tax credits 455,564 410,997 Other receivables 64,214 105,011 $ 741,993 $ 599,000 The Company is registered for the Canadian federal and provincial goods and services taxes. As such, the Company is obligated to collect, and is entitled to claim sale taxes paid on its expenses and capital expenditures incurred in Canada. In addition, Loop Canada Inc. is entitled to receive government assistance in the form of refundable and non-refundable research and development tax credits from the federal and provincial taxation authorities, based on qualifying expenditures incurred during the fiscal year. The refundable credits are from the provincial taxation authorities and are not dependent on its ongoing tax status or tax position and accordingly are not considered part of income taxes. The Company records refundable tax credits as a reduction of research and development expenses when the Company can reasonably estimate the amounts and it is more likely than not, they will be received. During the three-month periods ended May 31, 2019 and 2018, the Company recorded $55,725 and nil, respectively, as a reduction of research and development expenses. During the three-month periods ended May 31, 2019 and 2018, research and development tax credits received by the Company from taxation authorities amounted to nil and nil, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	May 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	As at May 31, 2019 Cost Accumulated depreciation Net book value Building $ 1,832,840 $ (82,178 ) $ 1,750,661 Land 226,540 - 226,540 Building Improvements 373,823 (122,274 ) 251,549 Machinery and equipment 4,650,026 (935,568 ) 3,714,458 Office equipment and furniture 113,989 (51,863 ) 62,126 Balances, end of period $ 7,197,218 $ (1,191,883 ) $ 6,005,335 As at February 28, 2019 Cost Accumulated depreciation Net book value Building $ 1,882,665 $ (68,596 ) $ 1,814,069 Land 232,699 - 232,699 Building Improvements 383,985 (119,889 ) 264,096 Machinery and equipment 3,834,338 (841,236 ) 2,993,102 Office equipment and furniture 117,088 (49,791 ) 67,297 Balances, end of period $ 6,450,775 $ (1,079,512 ) $ 5,371,263 Depreciation expense for the three-month periods ended May 31, 2019 and 2018 amounted to $161,321 and $84,590, respectively, and is recorded as an operating expense in the consolidated statements of operations and comprehensive loss.

Intangible Assets

Intangible Assets	3 Months Ended
	May 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Intangible Assets, Net	On October 27, 2014, the Company entered into an Intellectual Property Assignment Agreement with Mr. Hatem Essaddam wherein the Company purchased a certain technique and method, which was used to develop the Generation I (“GEN I”) technology, for $445,050 allowing for the depolymerization of polyethylene terephthalate at ambient temperature and atmospheric pressure. The GEN I technology patent portfolio has two issued U.S. patents and a pending U.S. application expected to expire on or around July 2035. Internationally, the Company has an issued patent in Taiwan, an allowed application in the members of the Gulf Cooperation Council, and pending patent applications in Argentina, Australia, Brazil, Canada, China, Eurasia, Europe, Israel, India, Japan, Korea, Mexico, the Philippines, and South Africa, all expected to expire, if granted, on or around July 2036. In addition to the $445,050 paid by the Company under the Intellectual Property Assignment Agreement, the Company is required to make four additional payments of CDN$200,000, totaling CDN$800,000, to Mr. Essaddam within sixty (60) days of attaining each of the following milestones: ● the average production of 20 metric tonnes of terephthalic acid by the Company, as a result of the GEN I technology, for 20 operating days; ● the average production of 30 metric tonnes of terephthalic acid by the Company, as a result of the GEN I technology, for 30 operating days; ● the average production of 60 metric tonnes of terephthalic acid by the Company, as a result of the GEN I technology, for 60 operating days; ● the average production of 100 metric tonnes of terephthalic acid by the Company, as a result of the GEN I technology, for 100 operating days. Additionally, the Company is obligated to make royalty payments of up to CDN$25,700,000, based on the GEN I technology, payable as follows: ● 10% of gross profits on the sale of all products derived by the Company from the technology; ● 10% of any license fee paid to the Company in respect of any licensing or other right to use the technology that was granted to a third party by the Company; and ● 5% of any royalty or other similar payment made to the Company by a third party to whom a license or sub-license or other right to use the technology has been granted by the Company or by the third party. The Company has no intention of commercializing the GEN I technology at this time. During the year ended February 28, 2019, the Company finalized the development of its next generation technology, referred to as Generation II (“GEN II”), and has filed various patents in jurisdictions around the world. On April 9, 2019, the GEN II U.S. patent was formally approved and issued and is expected to expire on or around September 2037. The GEN II technology patent portfolio also has a pending U.S. application as well as a PCT application and non-PCT applications in Argentina, Bangladesh, Bolivia, Bhutan, members of the Gulf Cooperation Council, Iraq, Pakistan, Taiwan, Uruguay, and Venezuela, all expected to expire, if granted, on or around September 2037. Additionally, the Company has three pending provisional applications directed to additional aspects of the GEN II technology. Any patents that would ultimately grant from these provisional applications would be expected to expire, if granted, no earlier than 2039. Concurrent with the GEN II development, in June 2018, the Company transitioned to its newly constructed GEN II industrial pilot plant. The GEN II technology forms the basis for the commercialization of the Company into the future. As a result of the strategic shift away from the GEN I technology, and the development of the GEN II technology during the year ended February 28, 2019, the Company considered the carrying value of its GEN I intangible asset to be impaired and wrote off the remaining balance of the intangible asset, which amounted to $298,694. Amortization expense for the three-month periods ended May 31, 2019 and 2018 amounted to $3,015 and $16,479, respectively, and is recorded as an operating expense in the unaudited condensed consolidated statements of operations and comprehensive loss. As at May 31, 2019 As at February 28, 2019 Intangible assets, at cost - beginning of period $ 127,672 $ 533,369 Intangible assets, accumulated depreciation – beginning of period - (200,629 ) 127,672 332,740 Add: Additions in the period 24,811 153,477 Deduct: Amortization of intangibles (3,015 ) (59,851 ) Deduct: Impairment of intangibles - (298,694 ) Add (deduct): Foreign exchange effect (3,356 ) - $ 146,112 $ 127,672

Fair value of financial instrum

Fair value of financial instruments	3 Months Ended
	May 31, 2019
Fair Value Of Financial Instruments
Fair value of financial instruments	The following tables presents the fair value of the Company’s financial liabilities as at May 31, 2019 and February 28, 2019: Fair Value Measurements as at May 31, 2019 Carrying Amount Fair Value Level in the hierarchy Instruments measured at fair value: $ - $ - - Instruments measured at amortized cost: Long-term debt 965,969 965,969 Level 2 Convertible notes (Second Issuance) $ 3,556,249 $ 4,900,000 Level 2 Fair Value Measurements at February 28, 2019 Carrying Amount Fair Value Level in the hierarchy Instruments measured at fair value: Warrants (First Issuance) $ 219,531 $ 219,531 Level 3 Instruments measured at amortized cost: Long-term debt 1,005,518 1,005,518 Level 2 Convertible notes (First Issuance) 2,495,636 2,650,000 Level 2 Convertible notes (Second Issuance) $ 3,126,886 $ 3,150,000 Level 2 The Warrants under the First Issuance of Convertible Notes represent a Level 3 in the fair value hierarchy. The Warrants were valued using a Monte Carlo simulation using a volatility of 71.5%. The Company recorded a loss on revaluation from the date of issuance to February 28, 2019 of $65,167.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	3 Months Ended
	May 31, 2019
Accounts Payable And Accrued Liabilities
Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities as at May 31, 2019 and February 28, 2019 were as follows: May 31, 2019 February 28, 2019 Trade accounts payable $ 2,086,412 $ 1,784,362 Accrued liabilities 555,287 520,671 Accrued bonuses 461,460 365,200 $ 3,103,159 $ 2,670,233

Joint Venture

Joint Venture	3 Months Ended
	May 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	On September 15, 2018, the Company, through its wholly-owned subsidiary Loop Innovations, LLC, a Delaware limited liability company, entered into a Joint Venture Agreement (the “Agreement”) with Indorama Ventures Holdings LP, USA, an indirect subsidiary of Indorama Ventures Public Company Limited, to manufacture and commercialize sustainable polyester resin. Each company has a 50/50 equity interest in Indorama Loop Technologies, LLC (“ILT”), which was specifically formed to operate and execute the joint venture. Under the Agreement, Indorama Venture is contributing manufacturing knowledge and Loop is required to contribute its proprietary science and technology. Specifically, the Company is contributing an exclusive world-wide royalty-free license to ILT to use its proprietary technology to produce 100% sustainably produced PET resin and polyester fiber. ILT meets the accounting definition of a joint venture where neither party has control of the joint venture entity and both parties have joint control over the decision-making process in ILT. As such, the Company uses the equity method of accounting to account for its share of the investment in Indorama Loop Technologies, LLC. There was no activity in ILT from the date of inception of September 24, 2018 to February 28, 2019 and, as at February 28, 2019, the carrying value of the equity investment was nil. On April 18, 2019, Loop Innovations, LLC, the Company’s wholly-owned subsidiary, and Indorama Ventures Holdings LP, USA each contributed cash of $500,000 to ILT. As there were no other transactions during the three-month period ended May 31, 2019, the carrying value of the equity investment as at May 31, 2019 was $500,000.

Long-Term Debt

Long-Term Debt	3 Months Ended
	May 31, 2019
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	May 31, 2019 February 28, 2019 Instalment loan $ 965,969 $ 1,005,518 Less current portion 51,748 53,155 Non-current portion $ 914,221 $ 952,363 Principal repayments due on the Instalment loan over the next five years are as follows: Years ending February 28, Amount 2020 $ 38,811 2021 51,748 2022 51,748 2023 51,748 2024 51,748 Thereafter 720,166 Total $ 965,969 Interest paid on the instalment loan during the three-month periods ended May 31, 2019 and 2018 amounted to $13,070 and $13,037, respectively. As at May 31, 2019, the Company was in compliance with its financial covenants.

Convertible Notes

Convertible Notes	3 Months Ended
	May 31, 2019
Convertible Notes Payable [Abstract]
Convertible notes	First Issuance On November 13, 2018, the Company issued convertible promissory notes (the “November 2018 Notes”), together with related warrants to acquire an additional 50% of the shares issued upon the conversion of the November 2018 Notes (the “November 2018 Warrants”), for an aggregate purchase price of $2,450,000 (the “November 2018 Private Placement”). On January 3, 2019, the Company issued additional convertible promissory notes from this issuance (the “November 2018 Notes”), together with related warrants to acquire an additional 50% of the shares issued upon the conversion of the November 2018 Notes (the “November 2018 Warrants”), for an aggregate purchase price of $200,000 (the “November 2018 Private Placement”). The November 2018 Notes carry an interest rate of 8.00% per annum and mature on May 13, 2019 and July 3, 2019 (the “November 2018 Maturity Date”), respectively, upon which date the outstanding principal amount of the November 2018 Notes and all accrued and unpaid interest shall automatically convert into shares of the common stock of the Company at the price per share equal to the lesser of (i) $13.00 and (ii) the average closing price of the Company’s Common Stock on the Nasdaq stock market for the ten days preceding the day to the conversion of the November 2018 Notes (the “November 2018 Conversion Price”). The total number of shares of Common Stock to be issued upon automatic conversion shall equal the outstanding principal amount of the November 2018 Notes and all accrued and unpaid interest on the November 2018 Notes, divided by the November 2018 Conversion Price. The November 2018 Warrants are exercisable for an additional fifty percent (50%) of the shares of Common Stock issued upon the conversion of the November 2018 Notes (the “November 2018 Warrant Shares”). The per share purchase price (the “November 2018 Exercise Price”) for each of the November 2018 Warrant Shares purchasable under the November 2018 Warrants shall be equal to the lesser of (i) $15.00 and (ii) the average closing price of the Company’s Common Stock on the Nasdaq stock market for the ten days preceding the day of the conversion of the November 2018 Notes. The November 2018 Warrants will be issued upon conversion of the November 2018 Notes. The November 2018 Warrants expire eighteen (18) months from the date of the conversion of the November 2018 Notes (the “November 2018 Expiration Date”). The Investors may exercise the November 2018 Warrants at any time prior to the November 2018 Expiration Date. Due to the variable conversion price, the November 2018 Notes contain characteristics of a variable share-forward sales contracts (“VSF”) under the guidance of ASC 480-10. Management has determined that for the purpose of ‎the accounting for the November 2018 Notes, it is more likely than not that the November 2018 Conversion Price will be below $13.00, resulting in the issuance of a variable number of shares, the November 2018 Notes are classified as a liability, and accounted for at amortized cost. Due to the variable number of warrants to be issued and the variable strike price of the November 2018 Warrants, these do not meet the “fixed-for-fixed” criteria under ASC 815-40. Accordingly, the November 2018 Warrants are classified as a derivative liability, initially measured at fair value and subsequently revalued at fair value through the income statement. The fair value was calculated using a Monte Carlo simulation. The transaction costs related to this issuance were split pro-rata between the November 2018 Notes and the November 2018 Warrants. The portion relating to the November 2018 Notes were deferred and are being amortized over the life of the convertible notes. The portion relating to the November 2018 Warrants was immediately expensed. The aggregate value of the November 2018 Notes and November 2018 Warrants as shown on the consolidated balance sheet are broken down as follows: May 31, 2019 February 28, 2019 Issue Date November 2018 Convertible Notes – Liability - $ 2,495,636 $ 2,495,636 Accrued interest – Liability - 60,793 - Deferred financing costs - (26,557 ) (63,738 ) Total - 2,529,872 2,431,898 November 2018 Warrants – Liability - $ 219,531 $ 154,364 On April 5, 2019, the Company and the Investors that purchased the "November 2018 Notes from the Company pursuant to the Note and Warrant Purchase Agreement dated as of November 13, 2018 or January 3, 2019, executed an Amendment, Surrender and Conversion Agreement (“Conversion Agreement”) whereby the parties agreed to convert the November 2018 Notes, and all accrued and unpaid interest, into shares of the common stock of the Company at a newly agreed conversion price per share equal to $8.55 (the “New Conversion Price”), replacing the previous formula which converted the November 2018 Notes and accrued and unpaid interest into shares of the common stock of the Company at the price per share equal to the lesser of (i) $13.00 and (ii) the average closing price of the Company’s Common Stock on the Nasdaq stock market for the ten days preceding the day to the conversion of the November 2018 Notes. The Conversion Agreement stipulates that the interest on the November 2018 Notes would be paid up to and including April 3, 2019. Pursuant to the 2018 Note Purchase Agreement, the Investors also received related warrants to acquire an additional 50% of the shares issued upon the conversion of the November 2018 Notes. As part of the Conversion Agreement, the exercise price of the November 2018 Warrants will also be the New Conversion Price, replacing the previous formula which established the conversion price for the November 2018 Warrants as the lesser of (i) $15.00 and (ii) the average closing price of the Company’s Common Stock on the Nasdaq stock market for the ten days preceding the day of the conversion of the November 2018 Notes. As a result of the Conversion Agreement, the Company issued 319,326 shares of common stock of the Company and issued 159,663 warrants. The November 2018 Warrants expire eighteen (18) months from the date of the conversion of the November 2018 Notes. The Company recorded an expense upon revaluation of the warrants for the period from March 1, 2019 to April 5, 2019 in the amount of $8,483 (2018 – nil) and is included in operating expenses. The Company recorded accretion interest expense on the November 2018 Notes from March 1, 2019 to April 5, 2019 in the amount of $154,364 and is included in operating expenses. The Company recorded interest expense on the November 2018 Notes for the period from March 1, 2019 to April 3, 2019 in the amount of $19,433 (2018 – nil). The value of the 159,633 warrants issued as part of the conversion was determined using the Black-Scholes pricing formula and amounted to $316,929 and is included in additional paid-in capital – warrants. Also, the conversion of the November 2018 Notes into common stock resulted in a gain of $232,565 and has been offset against operating expenses. Second Issuance On January 15, 2019, the Company issued convertible promissory notes (the “January 2019 Notes”), together with related warrants to acquire an additional 50% of the shares issuable upon the conversion of the January 2019 Notes (the “January 2019 Warrants”), for an aggregate purchase price of $4,500,000 (the “January 2019 Private Placement”). On January 21, 2019, the Company issued additional convertible promissory notes from this issuance, together with related warrants to acquire an additional 50% of the shares issuable upon the conversion of the January 2019 Notes, for an aggregate purchase price of $400,000. The January 2019 Notes carry an interest rate of 8.00% per annum and mature on January 15, 2020 and January 21, 2020 (the “January 2020 Maturity Date”), respectively. At the January 2020 Maturity Date, the outstanding principal amount of the January 2019 Notes shall automatically convert into shares of the common stock of the Company at the price per share equal to $8.10 (the “January 2020 Conversion Price”). The January 2020 Conversion Price may be adjusted in the event that the Company issues common shares in a private sale or offering at a lower price per share than $8.10 within 180 days of the closing date. The lower price would become the new conversion price of the January 2019 Notes, which would impact the number of shares that would be issued. The total number of shares of Common Stock to be issued upon automatic conversion shall equal the outstanding principal amount of the January 2019 Notes divided by the January 2020 Conversion Price. With respect to accrued and unpaid interest at the January 2020 Maturity Date, the Investors have the option of receiving cash or common stock of the Company at that date. Upon the January 2020 Maturity Date, where the Investor elect’s payment of accrued and unpaid interest on the January 2019 Notes in common stock, the price per share shall be equal to the trading price of the common stock at the close of the market on the date immediately preceding the January 2020 Maturity Date. The January 2019 Warrants are exercisable for an additional fifty percent (50%) of the shares of Common Stock issuable upon the conversion of the January 2019 Notes (the “January 2019 Warrant Shares”). The per share purchase price (the “January 2019 Exercise Price”) for each of the January 2019 Warrant Shares purchasable under the January 2019 Warrants shall be equal to 115% of the January 2020 Conversion Price. The January 2019 Warrants will be calculated and issued upon the closing date of the January 2019 Notes, based upon the initial $8.10 conversion price. As such, the Company issued 302,469 warrants at the closing dates of the January 2019 Notes. If the Investor elects to take accrued and unpaid interest on the January 2019 Notes in common stock, additional warrants will be issued to acquire 50% of the shares issued in connection with the accrued and unpaid interest (also referred to as the “January 2019 Warrants”). The January 2019 Warrants expire twenty-four (24) months from the date of their issuance (the “January 2019 Expiration Date”). The Investors may exercise the January 2019 Warrants at any time prior to the January 2019 Expiration Date. A beneficial conversion feature (“BCF”) of a convertible note is normally characterized as the convertible portion feature that provides a rate of conversion that is below market value or “in-the-money” when issued. The BCF related to the issuance of the January 2019 Notes was recorded at the issuance date. The BCF was measured using the intrinsic value method and is shown as a discount to the carrying amount of the convertible note and is credited to additional paid-in capital. The intrinsic value of the BCF at the issuance date of the January 2019 Notes was determined to be $1,200,915. In connection with the January 2019 Warrants issued along with the January 2019 Notes, they meet the requirements of the scope exemptions in ASC 815-10-15-74 and are thus classified as equity upon issuance. The Company determined the fair value of the warrants using the Black-Scholes pricing formula and is recognized as a discount on the carrying amount of the January 2019 Notes and is credited to additional paid-in capital. The fair value of the warrants at the issuance date was determined to be $757,704. The allocated fair values of the BCF and the warrants was recorded as a debt discount from the face amount of the January 2019 Notes and such discount is being accreted over the expected term of the January 2019 Notes and is charged to interest expense. The aggregate values of the January 2019 Warrants, the January 2019 Notes and the related BCF are as follows: May 31, 2019 February 28, 2019 Issue Date January 2019 Convertible Notes – Liability 3,556,249 $ 3,126,886 $ 2,941,381 Accrued interest – Liability 147,011 49,011 - Deferred financing costs (49,711 ) (69,597 ) (79,539 ) 3,653,549 3,106,300 2,861,842 January 2019 Beneficial Conversion Option – Equity 1,200,915 1,200,915 1,200,915 January 2019 Warrants – Equity $ 757,704 $ 757,704 $ 757,704 The transaction costs relating to this issuance were split pro-rata between the January 2019 Notes, the BCF and the January 2019 Warrants. The portion relating to the January 2019 Notes were deferred and are being amortized over the life of the January 2019 Notes. The portion relating to the BCF and the January 2019 Warrants were recorded as share issuance expenses and offset against additional paid-in capital. The Company recorded accretion interest expense on the January 2019 Notes for the three-month period ended May 31, 2019 of $429,363 (2018 – nil) and is included in operating expenses. The Company also recorded interest expense on the January 2019 Notes for the three-month period ended May 31, 2019 in the amount of $98,000 (2018 – nil).

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	May 31, 2019
Stockholders' Equity
Stockholders' Equity	Series A Preferred Stock Mr. Solomita’s amended employment agreement July 13, 2018 provides that the Company shall issue to Mr. Solomita one share of the Company’s Series A Preferred Stock in exchange for Mr. Solomita agreeing not to terminate his employment with the Company for a period of five years from the date of the agreement. The agreement effectively provides Mr. Solomita with a “change of control” provision over the Company in the event that his currently-held 53.3% of the issued and outstanding shares of common stock of the Company is diluted to less than a majority. In order to issue Mr. Solomita his one share of Series A Preferred Stock under the amendment, the Company created a “blank check” preferred stock. Subsequently, the board of directors of the Company approved a Certificate of Designation creating the Series A Preferred Stock. Subsequently, the Company issued one share of Series A Preferred Stock to Mr. Solomita. The one share of Series A Preferred Stock issued to Mr. Solomita holds a majority of the total voting power so long as Mr. Solomita holds not less than 7.5% of the issued and outstanding shares of common stock of the Company, assuring Mr. Solomita of control of the Company in the event that his currently-held 53.3% of the issued and outstanding shares of common stock of the Company is diluted to a level below a majority. Additionally, the one share of Series A Preferred Stock issued to Mr. Solomita contains protective provisions, which precludes the Company from taking certain actions without Mr. Solomita’s (or that of any person to whom the one share of Series A Preferred Stock is transferred) approval. More specifically, so long as any shares of Series A Preferred Stock are outstanding, the Company shall not, without first obtaining the approval (by vote or written consent, as provided by law) of the holders of at least a majority of the then outstanding shares of Series A Preferred Stock, voting as a separate class: (a) amend the Articles of Incorporation or, unless approved by the Board of Directors, including by the Series A Director, amend the Company’s Bylaws; (b) change or modify the rights, preferences or other terms of the Series A Preferred Stock, or increase or decrease the number of authorized shares of Series A Preferred Stock; (c) reclassify or recapitalize any outstanding equity securities, or, unless approved by the Board of Directors, including by the Series A Director, authorize or issue, or undertake an obligation to authorize or issue, any equity securities or any debt securities convertible into or exercisable for any equity securities (other than the issuance of stock-options or securities under any employee option or benefit plan); (d) authorize or effect any transaction constituting a Deemed Liquidation (as defined in this subparagraph) under the Articles, or any other merger or consolidation of the Company; (e) increase or decrease the size of the Board of Directors as provided in the Bylaws of the Company or remove the Series A Director (unless approved by the Board of Directors, including the Series A Director); (f) declare or pay any dividends or make any other distribution with respect to any class or series of capital stock (unless approved by the Board of Directors, including the Series A Director); (g) redeem, repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any outstanding shares of capital stock (other than the repurchase of shares of common stock from employees, consultants or other service providers pursuant to agreements approved by the Board of Directors under which the Company has the option to repurchase such shares at no greater than original cost upon the occurrence of certain events, such as the termination of employment) (unless approved by the Board of Directors, including the Series A Director); (h) create or amend any stock option plan of the Company, if any (other than amendments that do not require approval of the stockholders under the terms of the plan or applicable law) or approve any new equity incentive plan; (i) replace the President and/or Chief Executive Officer of the Company (unless approved by the Board of Directors, including the Series A Director); (j) transfer assets to any subsidiary or other affiliated entity (unless approved by the Board of Directors, including the Series A Director); (k) issue, or cause any subsidiary of the Company to issue, any indebtedness or debt security, other than trade accounts payable and/or letters of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase or otherwise alter in any material respect the terms of any indebtedness previously approved or required to be approved by the holders of the Series A Preferred Stock (unless approved by the Board of Directors, including the Series A Director); (l) modify or change the nature of the Company’s business; (m) acquire, or cause a Subsidiary of the Company to acquire, in any transaction or series of related transactions, the stock or any material assets of another person, or enter into any joint venture with any other person (unless approved by the Board of Directors, including the Series A Director); or (n) sell, transfer, license, lease or otherwise dispose of, in any transaction or series of related transactions, any material assets of the Company or any Subsidiary outside the ordinary course of business (unless approved by the Board of Directors, including the Series A Director). Common Stock For the period ended May 31, 2019 Number of shares Amount Balance, February 28, 2019 Issuance of shares for cash 33,805,706 600,000 $3,381 60 Issuance of shares upon settlement of legal matter 150,000 15 Issuance of shares upon conversion of Convertible notes 319,326 32 Balance, May 31, 2019 34,875,032 $3,488 For the period ended May 31, 2018 Number of shares Amount Balance, February 28, 2018 33,751,088 $3,376 Cashless exercise of stock options 18,821 2 Issuance of shares upon vesting of restricted stock units 35,797 3 Balance, May 31, 2018 33,805,706 $3,381 During the three months ended May 31, 2019, the Company recorded the following common stock transactions: (i) On March 1, 2019, the Company sold 600,000 shares of its common stock at an offering price of $8.55 per share in a registered direct offering, for gross proceeds of $5,130,000; (ii) On March 8, 2019 and March 11, 2019, the Company issued 150,000 shares of its common stock in settlement of a legal matter; (iii) On April 9, 2019, the Company converted Convertible notes with a face value of $2,650,000 plus accrued interest of $80,241 at a conversion price of $8.55, into 319, 326 common shares. During the three months ended May 31, 2018, the Company recorded the following common stock transactions: (i) the Company issued 18,821 shares of common stock upon the cashless exercise of 20,000 warrants. (ii) the Company issued 35,797 shares of common stock upon the vesting of restricted stock units.

Share-based Payments

Share-based Payments	3 Months Ended
	May 31, 2019
Share-based Payments
Share-based Payments	Stock Options The following tables summarizes the continuity of the Company’s stock options during the three-month periods ended May 31, 2019 and 2018: 2019 2018 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 1,962,400 $ 7.53 2,374,581 $ 7.99 Granted - - - - Exercised - - (20,000) 0.80 Forfeited (10,010) 8.75 (100,000) 5.25 Expired (260,417) 13.89 - - Outstanding, end of period 1,691,973 $ 6.60 2,254,581 $ 8.17 Exercisable, end of period 914,998 $ 6.10 926,249 $ 6.61 2019 2018 Exercise price Number of stock options outstanding Weighted average remaining life (yrs.) Number of stock options outstanding Weighted average remaining life (yrs.) $0.80 582,081 6.51 582,081 7.50 $3.00 - - 12,500 0.01 $5.25 380,000 8.24 430,000 8.19 $8.75 16,683 0.04 - - $11.52 13,209 0.04 - - $12.00 700,000 8.29 700,000 9.29 $13.49 - - 250,000 9.38 $13.89 - - 280,000 9.44 Outstanding, end of period 1,691,973 7.52 2,254,581 8.60 Exercisable, end of period 914,998 7.54 926,249 7.96 The Company applies the fair value method of accounting for stock-based compensation awards granted. Fair value is calculated based on a Black-Scholes option pricing model. As there were no new issuances of stock options for the three-month periods ended May 31, 2019 and 2018, there are no principal components of the Black-Scholes option pricing model for stock options during those periods. During the three-month periods ended May 31, 2019 and 2018, stock-based compensation expense attributable to stock options amounted to $575,513 and $978,025, respectively, and is included in operating expenses. Restricted Stock Units The following table summarizes the continuity of the restricted stock units (“RSUs”) during the three-month periods ended May 31, 2019 and 2018: 2019 2018 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 402,868 $ 8.77 34,102 $ 13.00 Granted 25,145 9.79 24,450 12.23 Issued as common stock (7,043) 12.16 (35,797) 13.06 Forfeited (17,203) 8.75 - - Outstanding, end of period 403,767 $ 8.73 22,755 $ 12.07 Outstanding vested, end of period 5,000 12.32 - - The Company applies the fair value method of accounting for awards granted through the issuance of restricted stock units. Fair value is calculated based on the closing share price at grant date multiplied by the number of restricted stock unit awards granted. During the three-month periods ended May 31, 2019 and 2018, stock-based compensation attributable to RSUs amounted to $355,178 and $207,645, respectively, and is included in operating expenses. During the three-month periods ended May 31, 2019 and 2018, stock-based compensation included in Research and development expenses amounted to $312,435 and $410,213, respectively, and in General and administrative expenses amounted to $618,255 and $775,456, respectively.

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	May 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Equity Incentive Plan	On July 6, 2017, the Company adopted the 2017 Equity Incentive Plan (the “Plan”). The Plan permits the granting of warrants, stock options, stock appreciation rights and restricted stock units to employees, directors and consultants of the Company. A total of 3,000,000 shares of common stock were initially reserved for issuance under the Plan at July 6, 2017, with annual automatic share reserve increases, as defined in the Plan, amounting to the lessor of (i) 1,500,000 shares, (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year, or (iii) or such number of shares determined by the Administrator of the Plan, effective March 1, 2018. The Plan is administered by the Board of Directors who designates eligible participants to be included under the Plan, the number of awards granted, the share price pursuant to the awards and the vesting conditions and period. The awards, when granted, will have an exercise price of no less than the estimated fair value of shares at the date of grant and a life not exceeding 10 years from the grant date. However, where a participant, at the time of the grant, owns stock representing more than 10% of the voting power of the Company, the life of the options shall not exceed 5 years. The following table summarizes the continuity of the Company’s Equity Incentive Plan units during the three-month periods ended May 31, 2019 and 2018: 2019 2018 Number of units Number of units Outstanding, beginning of period 3,223,516 1,735,898 Automatic share reserve increase 1,500,000 1,500,000 Units granted (25,145 ) (24,450 ) Units forfeited 27,213 - Units expired 260,417 - Outstanding, end of period 4,986,001 3,211,448

Warrants

Warrants	3 Months Ended
	May 31, 2019
Warrants Abstract
Warrants	The following table summarizes the continuity of warrants during the three-month periods ended May 31, 2019 and 2018: 2019 2018 Number of warrants Weighted average exercise price Number of warrants Weighted average exercise price Outstanding, beginning of period 802,469 $ 10.74 140,667 $ 12.00 Issued 159,663 8.55 - - Exercised - - - - Expired - - - - Outstanding, end of period 962,132 $ 10.38 140,667 $ 12.00 The expiration dates of the warrants outstanding as at May 31, 2019 are as follows: 2019 Number of warrants Weighted average exercise price January 15, 2020 277,778 $ 9.32 January 21, 2020 24,691 9.32 October 9, 2020 159,663 8.55 February 25, 2021 200,000 11.00 February 25, 2021 300,000 12.00 Outstanding, end of period 962,132 $ 10.38

Interest and Other Finance Cost

Interest and Other Finance Costs	3 Months Ended
	May 31, 2019
Interest And Other Finance Costs
Interest and Other Finance Costs	Interest and other finance costs for the three-month periods ended May 31, 2019 and 2018 are as follows: 2019 2018 Interest on long-term debt $13,070 $13,037 Interest on convertible notes 117,435 - Accretion expense 547,562 - Amortization of deferred finance costs 46,442 - Revaluation of warrants 8,483 - Gain on conversion of November 2018 Notes (232,565) - Other 1,422 (124) $501,849 $12,913

Contingencies

Contingencies	3 Months Ended
	May 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments	The Company has entered into multi-year supply agreements with PepsiCo, Coca-Cola’s Cross Enterprise Procurement Group and Danone SA that will enable them to purchase production capacity from the Company’s joint venture facility with IVL in the United States, and incorporate Loop™ PET resin into its product packaging starting in 2020. Also, the Company has entered into a multi-year supply agreement with L’Occitane that will enable them to purchase production capacity from the Company’s first European production facility.

Subsequent Events

Subsequent Events	3 Months Ended
	May 31, 2019
Subsequent Events [Abstract]
Subsequent Event	On May 29, 2019, Loop Industries, Inc. entered into a Securities Purchase Agreement (“Purchase Agreement”) by and among the Company, Northern Private Capital Fund I Limited Partnership, an accredited investor (the “Purchaser”), and Daniel Solomita (“Solomita”), in his individual capacity and solely for the purposes of a voting arrangement, pursuant to which the Company has agreed to issue and sell to the Purchaser in a registered direct offering (“Offering”) an aggregate of 4,093,567 shares (“Shares”) of the Company’s common stock (the “Common Stock”) at a per share purchase price of $8.55 per share, for aggregate net proceeds of approximately $34.6 million, after deducting estimated offering expenses payable by the Company, of approximately $400,000. The issuance and sale of the Shares is registered under the Securities Act of 1933 pursuant to the Company’s Registration Statement on Form S-3 which was declared effective by the Securities and Exchange Commission (“SEC”) on August 10, 2018, supplemented by a prospectus supplement dated May 29, 2019. Concurrently with the Offering and pursuant to the Purchase Agreement, the Company has agreed to issue to the Purchaser options to purchase up to an additional 4,093,567 shares of the Company’s common stock at an exercise price of $11.00 per share, which will vest on December 15, 2019, and are exercisable for three years following the closing date of the Offering. The Offering closed on June 14.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Use of Estimates	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for depreciable lives of property, plant and equipment, intangible assets, analysis of impairments of recorded intangible assets, accruals for potential liabilities and assumptions made in calculating the fair value of stock-based compensation and other stock instruments.
Foreign currency translations and transactions	The accompanying unaudited condensed consolidated financial statements are presented in U.S. dollars, the reporting currency of the Company. Assets and liabilities of subsidiaries that have a functional currency other than that of the Company are translated to U.S. dollars at the exchange rate as at the balance sheet date. Income and expenses are translated at the average exchange rate of the period. The resulting translation adjustments are included in other comprehensive income (loss) (“OCI”). As a result, foreign currency exchange fluctuations may impact operating expenses. The Company currently has not engaged in any currency hedging activities. For transactions and balances, monetary assets and liabilities denominated in foreign currencies are translated into the functional currency of the entity at the prevailing exchange rate at the reporting date. Non-monetary assets and liabilities, and revenue and expense items denominated in foreign currencies are translated into the functional currency using the exchange rate prevailing at the dates of the respective transactions. Foreign exchange gains and losses resulting from the settlement of such transactions are recognized in the consolidated statements of operations and comprehensive loss, except for gains or losses arising from the translation of intercompany balances denominated in foreign currencies that forms part in the net investment in the subsidiary which are included in OCI.
Stock-based compensation	Loop Industries, Inc. periodically issues stock options and restricted stock units to employees and non-employees in non-capital raising transactions for services and financing costs. The Company accounts for stock options granted to employees based on the authoritative guidance provided by the FASB wherein the fair value of the award is measured on the grant date and where there are no performance conditions, recognized as compensation expense on the straight-line basis over the vesting period and where performance conditions exist, recognize compensation expense when it becomes probable that the performance condition will be met. Forfeitures on share-based payments are accounted for by recognizing forfeitures as they occur. The Company accounts for stock options granted to non-employees in accordance with the authoritative guidance of the FASB wherein the fair value of the stock compensation is based upon the measurement date determined as the earlier of the date at which either a) a commitment is reached with the counterparty for performance or b) the counterparty completes its performance. The Company estimates the fair value of restricted stock unit awards to employees and directors based on the closing market price of its common stock on the date of grant. The fair value of the stock options granted are estimated using the Black-Scholes-Merton Option Pricing (“Black-Scholes”) model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the stock options, and future dividends. Stock-based compensation expense is recorded based on the value derived from the Black-Scholes model and on actual experience. The assumptions used in the Black-Scholes model could materially affect stock-based compensation expense recorded in the current and future periods.
Income taxes	The Company calculates its provision for income tax on the basis of the tax laws enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income, in accordance with FASB ASC 740, Income Taxes
Research and development expenses	Research and development expenses relate primarily to the development, design, testing of preproduction samples, prototypes and models, compensation, and consulting fees, and are expensed as incurred. Total research and development costs recorded during the three-month periods ended May 31, 2019 and 2018 amounted to $997,861 and $1,066,079, respectively, and are net of government research and development tax credits and government grants from the federal and provincial taxation authorities accrued and recorded based on qualifying expenditures incurred during the fiscal periods.
Net earnings (loss) per share	The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share For the three-month periods ended May 31, 2019 and 2018, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at May 31, 2019, the potentially dilutive securities consisted of 1,691,973 outstanding stock options (May 31, 2018 – 2,254,581), 403,767 outstanding restricted stock units (May 31, 2018 – 22,755), 962,132 outstanding warrants (May 31, 2018 – 140,667) and 1,000,000 outstanding issuable common stock (May 31, 2018 – 1,000,000).
Recently adopted accounting pronouncements	In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Revenue from Contracts with Customers In July 2018, the FASB issued ASU 2018-09, Codification Improvements , Compensation – Stock Compensation – Income Taxes In February 2016, the FASB issued ASU 2016-02, “Leases,” amended in July by ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Targeted Improvements,” and ASU 2018-20, “Narrow-Scope Improvements for Lessors,” which requires lessees to recognize leases on the balance sheet while continuing to recognize expenses in the income statement in a manner similar to current accounting standards. For lessors, the new standard modifies the classification criteria and the accounting for sales-type and direct financing leases. Enhanced disclosures will also be required to give financial statement users the ability to assess the amount, timing, and uncertainty of cash flows arising from leases. This ASU may either be adopted on a modified retrospective approach at the beginning of the earliest comparative period, or through a cumulative-effect adjustment at the adoption date. This update is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company adopted these standards effective March 1, 2019. The adoption of the standard had no impact on the consolidated financial statements of the Company. The Company elected to apply the package of practical expedients that allows us not to reassess whether expired or existing contracts contain leases, the classification of these leases and whether previously capitalized initial direct costs would qualify for capitalization under Accounting Standards Codification (or “ ASC

Sales Tax, Tax Credits and Ot_2

Sales Tax, Tax Credits and Other Receivables (Tables)	3 Months Ended
	May 31, 2019
Sales Tax Tax Credits And Other Receivables Tables Abstract
Sales Tax, Tax Credits and Other Receivables	May 31, 2019 February 28, 2019 Sales tax $ 222,215 $ 82,992 Research and development tax credits 455,564 410,997 Other receivables 64,214 105,011 $ 741,993 $ 599,000

Property, Plant and Equipment,

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	May 31, 2019
Property, Plant and Equipment [Abstract]
Property, plant and equipment	As at May 31, 2019 Cost Accumulated depreciation Net book value Building $ 1,832,840 $ (82,178 ) $ 1,750,661 Land 226,540 - 226,540 Building Improvements 373,823 (122,274 ) 251,549 Machinery and equipment 4,650,026 (935,568 ) 3,714,458 Office equipment and furniture 113,989 (51,863 ) 62,126 Balances, end of period $ 7,197,218 $ (1,191,883 ) $ 6,005,335 As at February 28, 2019 Cost Accumulated depreciation Net book value Building $ 1,882,665 $ (68,596 ) $ 1,814,069 Land 232,699 - 232,699 Building Improvements 383,985 (119,889 ) 264,096 Machinery and equipment 3,834,338 (841,236 ) 2,993,102 Office equipment and furniture 117,088 (49,791 ) 67,297 Balances, end of period $ 6,450,775 $ (1,079,512 ) $ 5,371,263

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	May 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of intangible assets	As at May 31, 2019 As at February 28, 2019 Intangible assets, at cost - beginning of period $ 127,672 $ 533,369 Intangible assets, accumulated depreciation – beginning of period - (200,629 ) 127,672 332,740 Add: Additions in the period 24,811 153,477 Deduct: Amortization of intangibles (3,015 ) (59,851 ) Deduct: Impairment of intangibles - (298,694 ) Add (deduct): Foreign exchange effect (3,356 ) - $ 146,112 $ 127,672

Fair value of financial instr_2

Fair value of financial instruments (Tables)	3 Months Ended
	May 31, 2019
Fair Value Of Financial Instruments Tables Abstract
Schedule of fair value of financial instruments	Fair Value Measurements as at May 31, 2019 Carrying Amount Fair Value Level in the hierarchy Instruments measured at fair value: $ - $ - - Instruments measured at amortized cost: Long-term debt 965,969 965,969 Level 2 Convertible notes (Second Issuance) $ 3,556,249 $ 4,900,000 Level 2 Fair Value Measurements at February 28, 2019 Carrying Amount Fair Value Level in the hierarchy Instruments measured at fair value: Warrants (First Issuance) $ 219,531 $ 219,531 Level 3 Instruments measured at amortized cost: Long-term debt 1,005,518 1,005,518 Level 2 Convertible notes (First Issuance) 2,495,636 2,650,000 Level 2 Convertible notes (Second Issuance) $ 3,126,886 $ 3,150,000 Level 2

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	May 31, 2019
Accounts Payable And Accrued Liabilities Tables Abstract
Accounts payable and accrued liabilities	May 31, 2019 February 28, 2019 Trade accounts payable $ 2,086,412 $ 1,784,362 Accrued liabilities 555,287 520,671 Accrued bonuses 461,460 365,200 $ 3,103,159 $ 2,670,233

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	May 31, 2019
Long-term Debt, Unclassified [Abstract]
Schedule of long term debt	May 31, 2019 February 28, 2019 Instalment loan $ 965,969 $ 1,005,518 Less current portion 51,748 53,155 Non-current portion $ 914,221 $ 952,363 Principal repayments due on the Instalment loan over the next five years are as follows: Years ending February 28, Amount 2020 $ 38,811 2021 51,748 2022 51,748 2023 51,748 2024 51,748 Thereafter 720,166 Total $ 965,969

Convertible Notes (Tables)

Convertible Notes (Tables)	3 Months Ended
	May 31, 2019
Convertible Notes Payable [Abstract]
Schedule of convertible notes	May 31, 2019 February 28, 2019 Issue Date November 2018 Convertible Notes – Liability - $ 2,495,636 $ 2,495,636 Accrued interest – Liability - 60,793 - Deferred financing costs - (26,557 ) (63,738 ) Total - 2,529,872 2,431,898 November 2018 Warrants – Liability - $ 219,531 $ 154,364 May 31, 2019 February 28, 2019 Issue Date January 2019 Convertible Notes – Liability 3,556,249 $ 3,126,886 $ 2,941,381 Accrued interest – Liability 147,011 49,011 - Deferred financing costs (49,711 ) (69,597 ) (79,539 ) 3,653,549 3,106,300 2,861,842 January 2019 Beneficial Conversion Option – Equity 1,200,915 1,200,915 1,200,915 January 2019 Warrants – Equity $ 757,704 $ 757,704 $ 757,704

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	May 31, 2019
Stockholders' Equity
Schedule of common stock	For the period ended May 31, 2019 Number of shares Amount Balance, February 28, 2019 Issuance of shares for cash 33,805,706 600,000 $3,381 60 Issuance of shares upon settlement of legal matter 150,000 15 Issuance of shares upon conversion of Convertible notes 319,326 32 Balance, May 31, 2019 34,875,032 $3,488 For the period ended May 31, 2018 Number of shares Amount Balance, February 28, 2018 33,751,088 $3,376 Cashless exercise of stock options 18,821 2 Issuance of shares upon vesting of restricted stock units 35,797 3 Balance, May 31, 2018 33,805,706 $3,381

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	May 31, 2019
Share-based Payment Arrangement [Abstract]
Stock option activity	2019 2018 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 1,962,400 $ 7.53 2,374,581 $ 7.99 Granted - - - - Exercised - - (20,000) 0.80 Forfeited (10,010) 8.75 (100,000) 5.25 Expired (260,417) 13.89 - - Outstanding, end of period 1,691,973 $ 6.60 2,254,581 $ 8.17 Exercisable, end of period 914,998 $ 6.10 926,249 $ 6.61
Stock options outstanding	2019 2018 Exercise price Number of stock options outstanding Weighted average remaining life (yrs.) Number of stock options outstanding Weighted average remaining life (yrs.) $0.80 582,081 6.51 582,081 7.50 $3.00 - - 12,500 0.01 $5.25 380,000 8.24 430,000 8.19 $8.75 16,683 0.04 - - $11.52 13,209 0.04 - - $12.00 700,000 8.29 700,000 9.29 $13.49 - - 250,000 9.38 $13.89 - - 280,000 9.44 Outstanding, end of period 1,691,973 7.52 2,254,581 8.60 Exercisable, end of period 914,998 7.54 926,249 7.96
RSU activity	2019 2018 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 402,868 $ 8.77 34,102 $ 13.00 Granted 25,145 9.79 24,450 12.23 Issued as common stock (7,043) 12.16 (35,797) 13.06 Forfeited (17,203) 8.75 - - Outstanding, end of period 403,767 $ 8.73 22,755 $ 12.07 Outstanding vested, end of period 5,000 12.32 - -

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	May 31, 2019
Equity [Abstract]
Equity incentive plan	2019 2018 Number of units Number of units Outstanding, beginning of period 3,223,516 1,735,898 Automatic share reserve increase 1,500,000 1,500,000 Units granted (25,145 ) (24,450 ) Units forfeited 27,213 - Units expired 260,417 - Outstanding, end of period 4,986,001 3,211,448

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	May 31, 2019
Equity [Abstract]
Warrant activity	2019 2018 Number of warrants Weighted average exercise price Number of warrants Weighted average exercise price Outstanding, beginning of period 802,469 $ 10.74 140,667 $ 12.00 Issued 159,663 8.55 - - Exercised - - - - Expired - - - - Outstanding, end of period 962,132 $ 10.38 140,667 $ 12.00
Warrants outstanding	2019 Number of warrants Weighted average exercise price January 15, 2020 277,778 $ 9.32 January 21, 2020 24,691 9.32 October 9, 2020 159,663 8.55 February 25, 2021 200,000 11.00 February 25, 2021 300,000 12.00 Outstanding, end of period 962,132 $ 10.38

Interest and Other Finance Co_2

Interest and Other Finance Costs (Tables)	3 Months Ended
	May 31, 2019
Interest And Other Finance Costs Tables Abstract
Interest and other finance costs	2019 2018 Interest on long-term debt $13,070 $13,037 Interest on convertible notes 117,435 - Accretion expense 547,562 - Amortization of deferred finance costs 46,442 - Revaluation of warrants 8,483 - Gain on conversion of November 2018 Notes (232,565) - Other 1,422 (124) $501,849 $12,913

Nature of the Company, Basis _2

Nature of the Company, Basis of Presentation and Going Concern (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018	Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (42,366,142)		$ (38,811,592)
Net Loss	(3,554,550)	$ (3,529,530)
Net cash used in operating activities	(2,087,353)	$ (2,171,061)
Cash	$ 6,971,613		$ 5,833,390

Sales Tax, Tax Credits and Ot_3

Sales Tax, Tax Credits and Other Receivables (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Accounting Policies [Abstract]
Sales tax receivables	$ 222,215	$ 82,992
Research and development tax credits	455,564	410,997
Other receivables	64,214	105,011
Sales tax, research and development tax credits and other receivables	$ 741,993	$ 599,000

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Property, plant and equipment, gross	$ 7,197,218	$ 6,450,775
Less: accumulated depreciation	(1,191,883)	(1,079,512)
Property, plant and equipment, net	6,005,335	5,371,263
Building [Member]
Property, plant and equipment, gross	1,832,840	1,882,665
Less: accumulated depreciation	(82,178)	(68,596)
Property, plant and equipment, net	1,750,661	1,814,069
Land [Member]
Property, plant and equipment, gross	226,540	232,699
Less: accumulated depreciation	0	0
Property, plant and equipment, net	226,540	232,699
Building Improvements [Member]
Property, plant and equipment, gross	373,823	383,985
Less: accumulated depreciation	(122,274)	(119,889)
Property, plant and equipment, net	251,549	264,096
Machinery and equipment [Member]
Property, plant and equipment, gross	4,650,026	3,834,338
Less: accumulated depreciation	(935,568)	(841,236)
Property, plant and equipment, net	3,714,458	2,993,102
Office equipment and furniture [Member]
Property, plant and equipment, gross	113,989	117,088
Less: accumulated depreciation	(51,863)	(49,791)
Property, plant and equipment, net	$ 62,126	$ 67,297

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 161,321	$ 84,590

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($)	May 31, 2019	Feb. 28, 2019	Feb. 28, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, at cost - beginning of period	$ 127,672	$ 533,369
Intangible assets, accumulated depreciation – beginning of period	0	(200,629)
Intangible assets, net	$ 146,112	$ 127,672	$ 533,369

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	May 31, 2019	Feb. 28, 2019
Intangible Assets Net
Intangible assets, net beginning	$ 127,672	$ 533,369
Add: Additions in the period	24,811	153,477
Deduct: Amortization of intangibles	(3,015)	(59,851)
Deduct: Impairment of intangibles	0	(298,694)
Add (deduct): Foreign exchange effect	(3,356)	0
Intangible assets, net ending	$ 146,112	$ 127,672

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Amortization expense	$ 3,015	$ 16,479

Fair value of financial instr_3

Fair value of financial instruments (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Fair Value Of Financial Instruments Details Abstract
Warrants (First Issuance), carrying amount		$ 219,531
Warrants (First Issuance), fair value		219,531
Long-term debt, carrying amount	965,969	1,005,518
Long-term debt, fair value	965,969	1,005,518
Convertible notes (First Issuance), carrying amount		2,495,636
Convertible notes (First Issuance), fair value		2,650,000
Convertible notes (Second Issuance), carrying amount	3,556,249	3,126,886
Convertible notes (Second Issuance), fair value	$ 4,900,000	$ 3,150,000

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Accounts Payable And Accrued Liabilities Details Abstract
Trade accounts payable	$ 2,086,412	$ 1,784,362
Accrued liabilities	555,287	520,671
Accrued bonuses	461,460	365,200
Accounts payable and accrued liabilities	$ 3,103,159	$ 2,670,233

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Long-term Debt, Unclassified [Abstract]
Installment loan	$ 965,969	$ 1,005,518
Less current portion	51,748	53,155
Non-current portion	$ 914,221	$ 952,363

Long-Term Debt (Details 1)

Long-Term Debt (Details 1) - USD ($)	May 31, 2019	Feb. 28, 2019
Long-term Debt
2020	$ 38,811
2021	51,748
2022	51,748
2023	51,748
2024	51,748
Thereafter	720,166
Total	$ 965,969	$ 1,005,518

Long-Term Debt (Details Narrati

Long-Term Debt (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Long-term Debt, Unclassified [Abstract]
Interest paid	$ 13,070	$ 13,037

Convertible Notes (Details)

Convertible Notes (Details) - USD ($)	May 31, 2019	Feb. 28, 2019
Warrants - liability	$ 0	$ 219,531
Beneficial conversion option - equity	1,200,915	1,200,915
Warrants - equity	1,074,633	757,704
November 2018
Convertible notes - liability	0	2,495,636
Accrued interest - liability	0	60,793
Deferred financing costs	0	(26,557)
Total	0	2,529,872
Warrants - liability	0	219,531
November 2018 | Issue Date
Convertible notes - liability	2,495,636
Accrued interest - liability	0
Deferred financing costs	(63,738)
Total	2,431,898
Warrants - liability	154,364
January 2019
Convertible notes - liability	3,556,249	3,126,886
Accrued interest - liability	147,011	49,011
Deferred financing costs	(49,711)	(69,597)
Total	3,653,549	3,106,300
Beneficial conversion option - equity	1,200,915	1,200,915
Warrants - equity	757,704	$ 757,704
January 2019 | Issue Date
Convertible notes - liability	2,941,381
Accrued interest - liability	0
Deferred financing costs	(79,539)
Total	2,861,842
Beneficial conversion option - equity	1,200,915
Warrants - equity	$ 757,704

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Beginning Balance, Amount	$ 2,626,392	$ 10,324,065
Issuance of common shares for cash, Amount	4,266,785
Issuance of shares upon conversion of Convertible notes, Amount	2,689,510
Ending Balance, Amount	$ 6,818,685	$ 7,927,936
Common Stock [Member]
Beginning Balance, Shares	33,805,706	33,751,088
Beginning Balance, Amount	$ 3,381	$ 3,376
Issuance of common shares for cash, Shares	600,000
Issuance of common shares for cash, Amount	$ 60
Issuance of shares upon settlement of legal matter, Shares	150,000
Issuance of shares upon settlement of legal matter, Amount	$ 15
Issuance of shares upon conversion of Convertible notes, Shares	319,326
Issuance of shares upon conversion of Convertible notes, Amount	$ 32
Cashless exercise of warrants, Shares		18,821
Cashless exercise of warrants, Amount		$ 2
Issuance of shares upon vesting of restricted stock units, Shares		35,797
Issuance of shares upon vesting of restricted stock units, Amount		$ 3
Ending Balance, Shares	34,875,032	33,805,706
Ending Balance, Amount	$ 3,488	$ 3,381

Share-Based Payments (Details)

Share-Based Payments (Details) - $ / shares	3 Months Ended
	May 31, 2019	May 31, 2018
Share-based Payment Arrangement [Abstract]
Number of options outstanding, beginning	1,962,400	2,374,581
Number of options, granted	0	0
Number of options, exercised	0	(20,000)
Number of options, forfeited	(10,010)	(100,000)
Number of options, expired	(260,417)	0
Number of options outstanding, ending	1,691,973	2,254,581
Number of options outstanding, exercisable	914,998	926,249
Weighted average exercise price outstanding, beginning	$ 7.53	$ 7.99
Weighted average exercise price, granted	0	0
Weighted average exercise price, exercised	0	0.8
Weighted average exercise price, forfeited	8.75	5.25
Weighted average exercise price, expired	13.89	0
Weighted average exercise price outstanding, ending	6.60	8.17
Weighted average exercise price outstanding, exercisable	$ 6.10	$ 6.61

Share-Based Payments (Details 1

Share-Based Payments (Details 1) - $ / shares	3 Months Ended
	May 31, 2019	May 31, 2018	Feb. 28, 2019	Feb. 28, 2018
Exercise price	$ 6.60	$ 8.17	$ 7.53	$ 7.99
Number of stock options, outstanding	1,691,973	2,254,581	1,962,400	2,374,581
Number of stock options, exercisable	914,998	926,249
Weighted average remaining life, outstanding	7 years 6 months 7 days	8 years 7 months 6 days
Weighted average remaining life, exercisable	7 years 6 months 14 days	7 years 11 months 16 days
Stock Option 1
Exercise price	$ 0.80
Number of stock options, outstanding	582,081	582,081
Weighted average remaining life, outstanding	6 years 6 months 4 days	7 years 6 months
Stock Option 2
Exercise price	$ 3
Number of stock options, outstanding	0	12,500
Weighted average remaining life, outstanding	0 years	4 days
Stock Option 3
Exercise price	$ 5.25
Number of stock options, outstanding	380,000	430,000
Weighted average remaining life, outstanding	8 years 2 months 26 days	8 years 2 months 8 days
Stock Option 4
Exercise price	$ 8.75
Number of stock options, outstanding	16,683	0
Weighted average remaining life, outstanding	14 days	0 years
Stock Option 5
Exercise price	$ 11.52
Number of stock options, outstanding	13,209	0
Weighted average remaining life, outstanding	14 days	0 years
Stock Option 6
Exercise price	$ 12
Number of stock options, outstanding	700,000	700,000
Weighted average remaining life, outstanding	8 years 3 months 14 days	9 years 3 months 14 days
Stock Option 7
Exercise price	$ 13.49
Number of stock options, outstanding	0	250,000
Weighted average remaining life, outstanding	0 years	9 years 4 months 17 days
Stock Option 8
Exercise price	$ 13.89
Number of stock options, outstanding	0	280,000
Weighted average remaining life, outstanding	0 years	9 years 5 months 8 days

Share-Based Payments (Details 2

Share-Based Payments (Details 2) - $ / shares	3 Months Ended
	May 31, 2019	May 31, 2018
Share-based Payment Arrangement [Abstract]
Number of units outstanding, beginning	402,868	34,102
Number of units, granted	25,145	24,450
Number of units, vested	(7,043)	(35,797)
Number of units, forfeited	(17,203)	0
Number of units outstanding, ending	403,767	22,755
Weighted average exercise price outstanding, beginning	$ 8.77	$ 13
Weighted average exercise price, granted	9.79	12.23
Weighted average exercise price, vested	12.16	13.06
Weighted average exercise price, forfeited	8.75	0
Weighted average exercise price outstanding, ending	$ 8.73	$ 12.07

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - shares	3 Months Ended
	May 31, 2019	May 31, 2018
Number of units outstanding, beginning	402,868	34,102
Number of units, granted	(25,145)	(24,450)
Number of units, forfeited	17,203	0
Number of units outstanding, ending	403,767	22,755
Equity Incentive plan [Member]
Number of units outstanding, beginning	3,223,516	1,735,898
Automatic share reserve increase	1,500,000	1,500,000
Number of units, granted	(25,145)	(24,450)
Number of units, forfeited	27,213	0
Number of units, expired	260,417	0
Number of units outstanding, ending	4,986,001	3,211,448

Warrants (Details)

Warrants (Details) - $ / shares	3 Months Ended
	May 31, 2019	May 31, 2018
Number of units outstanding, beginning	402,868	34,102
Number of units, issued	25,145	24,450
Number of units outstanding, ending	403,767	22,755
Weighted average exercise price outstanding, beginning	$ 8.77	$ 13
Weighted average exercise price, issued	9.79	12.23
Weighted average exercise price outstanding, ending	$ 8.73	$ 12.07
Warrants [Member]
Number of units outstanding, beginning	802,469	140,667
Number of units, issued	159,663	0
Number of units, exercised	0	0
Number of units, expired	0	0
Number of units outstanding, ending	962,132	140,667
Weighted average exercise price outstanding, beginning	$ 10.74	$ 12
Weighted average exercise price, issued	8.55	0
Weighted average exercise price, exercised	0	0
Weighted average exercise price, expired	0	0
Weighted average exercise price outstanding, ending	$ 10.38	$ 12

Warrants (Details 1)

Warrants (Details 1)	3 Months Ended
	May 31, 2019$ / sharesshares
Number of warrants outstanding | shares	962,132
Weighted average exercise price | $ / shares	$ 10.38
Warrants 1
Expiration date	Jan. 15, 2020
Number of warrants outstanding | shares	277,778
Weighted average exercise price | $ / shares	$ 9.32
Warrants 2
Expiration date	Jan. 21, 2020
Number of warrants outstanding | shares	24,691
Weighted average exercise price | $ / shares	$ 9.32
Warrants 3
Expiration date	Oct. 9, 2020
Number of warrants outstanding | shares	159,663
Weighted average exercise price | $ / shares	$ 8.55
Warrants 4
Expiration date	Feb. 25, 2021
Number of warrants outstanding | shares	200,000
Weighted average exercise price | $ / shares	$ 11
Warrants 5
Expiration date	Feb. 25, 2021
Number of warrants outstanding | shares	300,000
Weighted average exercise price | $ / shares	$ 12

Interest and Other Finance Co_3

Interest and Other Finance Costs (Details) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Interest And Other Finance Costs Details Abstract
Interest on long-term debt	$ 13,070	$ 13,037
Interest on convertible notes	117,435	0
Accretion expense	547,562	0
Amortization of deferred finance costs	46,442	0
Revaluation of warrants	8,483	0
Gain on conversion of November 2018 Notes	(232,565)	0
Other	1,422	(124)
Interest and other finance costs	$ 501,849	$ 12,913